New Offshore Gas Find Won’t Solve Colombia’s Immediate Energy Needs

Colombia recently confirmed its most significant gas discovery since the 1990s. The Sirius project, formerly known as Uchuva, has proven the existence of 6 trillion cubic feet of natural gas.

This offshore project in the Caribbean Sea, led by Ecopetrol and Petrobras, could potentially double Colombia’s current reserves. However, it won’t solve the country’s immediate energy problems.

Ricardo Roa, Ecopetrol’s president, acknowledged that Colombia will need to import gas next year to meet domestic demand. The Sirius discovery could multiply the country’s gas reserves by five to seven times.

Despite this promising outlook, the project faces several hurdles before it can contribute to Colombia‘s energy supply. One significant challenge is the requirement to complete 116 prior consultations.

These consultations involve dialogue between the state and indigenous communities, particularly the Taganga community.

The process aims to reach agreements on administrative or legislative measures that might affect the collective rights of these groups.

Challenges and Potential of the Sirius Gas Field

A recent court ruling in Santa Marta ordered a halt to operations until the prior consultation processes are completed. Several government entities, including the Ministry of Mines and Energy, have challenged this ruling.

The National Environmental Licensing Authority has also opposed the decision. They argue that they met all requirements and did not need any additional consultations.

Sergio Cabrales, a professor at the University of the Andes, explained that while Sirius represents a major discovery, its commercial production isn’t expected to begin until 2029 or 2030.

This timeline means it won’t address Colombia’s gas deficit in the coming years. Further tests are needed to determine the percentage of gas that can be effectively produced.

At the current consumption rate of 0.3 trillion cubic feet per year, the Sirius field could potentially supply Colombia’s needs for about 20 years.

Rogeiro Suárez, Petrobras‘ manager for Colombia, compared the size of this deposit to the Chuchupa field, which had initial reserves between 5 and 5.6 trillion cubic feet.

Ecopetrol and Petrobras aim to start production in 2029. However, they must overcome various operational, legal, and social challenges before reaching this goal.

Bruce Mac Master, president of ANDI, noted that this new gas discovery could provide between five and seven years of supply. He also mentioned that the project would require an investment of 5 billion dollars.